Total amount raised
$115.5 Millions
Latest funding date
9/1/2023
Location
Absolute has successfully raised funding through multiple rounds, with notable investors such as Assam AgriFin and Alpha Wave Global backing the company. The platform focuses on bioscience and technology, offering innovative solutions in agriculture, healthcare, and materials.
Keep reading to explore the intricacies of Absolute's fundraising journey and the investors supporting this pioneering bioscience company.
What Is Absolute?
Founded in 2015, Absolute is a pioneering plant bioscience company based in New Delhi, India. The company was established by Agam Khare, Prateek Rawat, and Samder Singh.
Absolute focuses on providing actionable insights to farmers through advanced technologies like sensors and satellite feeds, optimizing growing conditions throughout the crop cycle. Their mission extends to decarbonizing agriculture, accelerating life-critical discoveries, and creating climate-positive materials.
With a workforce of 501-1000 employees, Absolute continues to innovate in agriculture, healthcare, and materials, driving sustainable solutions for a better future.
How Much Funding Has Absolute Raised?
- Seed Round
- Amount Raised: $663.1K
- Date: September 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart operations and develop core technologies.
- Seed Round
- Amount Raised: $2.3M
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and technology development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's technology and expand its market reach.
- Series A
- Amount Raised: $12.6M
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: $40-50 million
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series B
- Amount Raised: $100M
- Date: May 2022
- Lead Investors: Sequoia Capital India, Alpha Wave Global, Tiger Global
- Valuation at Round: $500 million
- Motivation Behind the Round: To ramp up hiring, expand to new geographies, and strengthen core platforms.
- Grant
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: Assam AgriFin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development initiatives.
Total Amount Raised: $115.5631M
Current Valuation: $500 million
Key Investors
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies across various sectors. It is known for its significant role in nurturing startups in India and Southeast Asia.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Zomato, BYJU'S, OYO.
- Alpha Wave Global
- Details: Alpha Wave Global is a global investment firm that focuses on high-growth companies. Co-founded by Navroz D Udwadia, the firm leverages AI and other advanced technologies in its investments.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Swiggy, Ola, PolicyBazaar.
- Tiger Global
- Details: Tiger Global is an investment firm that invests in private and public companies in the global Internet, software, consumer, and financial technology industries. It has a strong track record of backing successful tech companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Flipkart, LinkedIn, Spotify.
- Surge
- Details: Surge is an accelerator program by Sequoia Capital India that supports early-stage startups. It provides funding, mentorship, and resources to help startups scale rapidly.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Khatabook, Classplus, Doubtnut.
- Assam AgriFin
- Details: Assam AgriFin is an investor focused on supporting agricultural initiatives. It aims to enhance agricultural productivity and sustainability through strategic investments.
- Investment Focus Areas: Agriculture, sustainability, rural development.
- Notable Investments: Not publicly disclosed.
What's Next for Absolute?
Absolute's future is brimming with opportunities, driven by the burgeoning agritech industry. With the recent $100 million funding, the company is poised to expand its geographical footprint and strengthen its core platforms: BioX, FARM OS, and the global trade platform. The Indian agritech market, projected to reach $30-$35 billion by 2025, offers a vast landscape for growth. Absolute's AI-driven solutions and sustainable farming practices position it well to capture a significant share of this market.
Future fundraising seems promising, given the increasing investor interest in agritech. Absolute's rapid growth and technological advancements are likely to attract further investments, enabling the company to scale operations and enter new markets. However, challenges such as competition from other agritech startups and navigating regulatory environments in different countries could pose hurdles. Ensuring the adoption of new technologies by traditional farmers will also be crucial for sustained growth.
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